Binance LCX launched cryptocurrency trading in tandem with Fiat in Liechtenstein
Binance LCX, a joint venture of the exchange Binance and Liechtenstein Cryptoassets Exchange (LCX), announced the launch of its platform for trading digital assets in tandem with Fiat currencies.
The new trading platform is based in Liechtenstein and offers trading Swiss francs (CHF) and Euro (EUR) against the other major digital currencies. In the future, after approval by the regulator, plans to add a wider range of trading pairs.
Binance will act as the provider of the platform, while Binance LCX will deal with customer support, compliance and government communications. Adrian Hasler, Prime Minister of Liechtenstein, said the launch of the new exchange:
“We are convinced that current and future legal framework and practice of Liechtenstein in respect of crypto-currencies will allow to provide a reliable basis for Binance LCX and other companies will have similar services here in Liechtenstein.”
Liechtenstein took an open position against the blockchain technology and digital currency, focusing on neighbouring Switzerland, is known for the existence of “free Cryptocoryne” in Zug.
Recently, Liechtenstein has introduced a new law that provides a legal framework for cryptocurrency businesses and clients interested in doing activities in this area. The Liechtenstein authorities also are of the opinion that the cryptocurrency market does not need excessive regulation.
We will remind, since March, 2018, Bank Liechtenstein, Frick began to provide its customers with the ability to buy bitcoins, esters, litecoin, ripple and bitcoin is cash, and also promised to protect their crypto-currency savings from cyber attacks with the help of cold storage.
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